generational inequality

[Rjk]

came across this on twitter earlier which I found very surprising 20231228_222216.jpg

[Doucas]

Re: generational inequality

Young people have been screaming about this for a long time but voters who benefitted from this inequality don't give a toss.

Everything is more expensive, it's far harder to buy a house, we probably won't get a state pension, NHS may collapse, wages have stagnated for decades yet so many old people bury their heads in the sand and say 'we're just entitled'.

[Taunton Blue Genie]

Re: generational inequality

Young people have been screaming about this for a long time but voters who benefitted from this inequality don't give a toss.

Everything is more expensive, it's far harder to buy a house, we probably won't get a state pension, NHS may collapse, wages have stagnated for decades yet so many old people bury their heads in the sand and say 'we're just entitled'.

Congratulations for stereotyping a whole generation.

[pipster]

Re: generational inequality

came across this on twitter earlier which I found very surprising [ATTACH=CONFIG]5990[/ATTACH]

Maybe from the same source - I just did a bit of research

"Millennials and Gen Z face a cost of living crisis, not just from the impacts of inflation, but critically because of a long term shift on who and how the state taxes. This shift has happened over time, with rates rising by a greater magnitude for young people and low earners than for higher earners and people over the State Pension Age. Almost every generation has paid more in taxes, both direct and indirect, than those born in the previous decade did at the same age.

Recent debate within the Conservative party has focussed on the burden of tax in absolute terms, missing the nuanced discussion of where tax falls. Older generations have benefitted from lower tax rates throughout their lives and now benefit from low asset taxes. Conversely, younger people pay a much heavier burden of tax and are predicted to do so throughout their lives. Young professional graduates now pay a marginal rate of 52 per cent. The high-taxation problem is compounded by lower disposable incomes compared to Gen X, driven by housing costs and low wage growth.


Rt Hon Simon Clarke MP, former Secretary of State for Levelling Up and MP for Middlesbrough South and East Cleveland

To win not just the next election but those in the coming decades, we must offer more to younger generations. The principles of good work, home and family are Conservative ones. By prioritising reform in these areas the party can give younger people their own chance to get on in life. Rebalancing our economy in this way is imperative if we are to win their support, and in turn see future Conservative governments.

The party has always been at its strongest when it governs for the entire country, rather than chasing a narrow coalition of voters. As support amongst Millennial and Gen Z voters drifts further away, now is the time to reassess our approach.

This isn’t just important for the electoral future of the party, but for the growth and prosperity of the UK. Next Gen Tories has rightly identified that we must prioritise building more homes, supporting families and lowering taxes. The evidence is clear – and it calls us to action.

The average person born in 1956 will pay £940,000 in tax over the course of their life, but they are forecast to receive state benefits amounting to more than £1.2 million, a so-called welfare dividend of £291,000. When the balance of taxation is fair, each generation is happy to pay for others to benefit from the education that they received themselves, or for the health and social care that they too will rely upon in older age. This principle is put under pressure if poorer millennials are asked to pay in more and take out less than older generations.

In the next decade the question of how the Government raises tax will become more pressing. As the baby boomer population ages, the subsequent pressures on the public sector will necessitate increased spending in the absence of public service reform. Indeed, spending on health care and social security is set to rise by £24 billion by 2030 and by £63 billion by 2040.

Conservatives understand that the state has no money of its own, only taxpayers money, placing a responsibility on the state to raise taxes fairly. Funding an expansion of the state through redistribution of wealth from poor to rich goes against the Conservative principle of equality of opportunity. Rebalancing the tax system will reap significant rewards, giving younger people more disposable income to put either directly into the economy or to save for a deposit on a property.

This approach will create a more balanced economy, where younger people are able to get on in life under their own steam. As the public finances return to health in the coming years, the proceeds of growth must be targeted at working people first. When considering where these tax cuts fall, the Treasury must ensure these voters, who pay the most but receive the least, are at the forefront of their minds."

What was the population of the UK in 1956 and what is the population of the UK today? - probably easier to give a net gain in benefit when there is less people to give it to. Caveat the article - and the sentiment of the statement doesnt give a source to the data or even state where it has been verified. Im presuming it has been verified (which maybe incorrect)

[jon1959]

Re: generational inequality

'What was the population of the UK in 1956 and what is the population of the UK today? - probably easier to give a net gain in benefit when there is less people to give it to. Caveat the article - and the sentiment of the statement doesnt give a source to the data or even state where it has been verified. Im presuming it has been verified (which maybe incorrect)'

Are fewer.

UK population 1956: 51,421,613.
UK population 2023: 67,736,802

Thank you Google.

[Doucas]

Re: generational inequality

Congratulations for stereotyping a whole generation.

Well older people do overwhelmingly vote Conservative in addition to voting for Brexit. You only have to go to Facebook, football forums or Daily Mail to see what older people's thoughts are on the situation, the majority do not care.

[Taunton Blue Genie]

Re: generational inequality

Well older people do overwhelmingly vote Conservative in addition to voting for Brexit. You only have to go to Facebook, football forums or Daily Mail to see what older people's thoughts are on the situation, the majority do not care.

I have many friends who are grandparents (many of whom are on Facebook) and who are neither Daily Mail readers nor contributors to football forums. Many of them have grandchildren themselves and some of them have released capital to help them out.

I think you are better than just spouting such generalisations based on the Daily Mail and the like. A lot of posters on this message board are of a certain age but I don't recall many posts where they state 'We're just entitled' (your words), do you?

[NinianOpinion1927]

Re: generational inequality

Young people have been screaming about this for a long time but voters who benefitted from this inequality don't give a toss.

Everything is more expensive, it's far harder to buy a house, we probably won't get a state pension, NHS may collapse, wages have stagnated for decades yet so many old people bury their heads in the sand and say 'we're just entitled'.

It's far harder to buy a house primarily due to immigration yet hard lefties like you won't ever admit it. You'll blame everything but immigration

[jon1959]

Re: generational inequality

It's far harder to buy a house primarily due to immigration yet hard lefties like you won't ever admit it. You'll blame everything but immigration

There are over one million empty homes in the UK - either in disrepair or being held as investment stock.

Large parts of London have been bought up by Tory donors (aka foreign oligarchs, dictators and the extended families of absolutist monarchs) and kept empty or priced out of the reach of local people.

Developer land banking and local authorities prevented by government subsidy snd self-financing rules from building more homes in urban areas and brownfield sites.

But no.... the real reason for the jackboot fraternity is immigration?

[Heathblue]

Re: generational inequality

It's far harder to buy a house primarily due to immigration yet hard lefties like you won't ever admit it. You'll blame everything but immigration

My son took the keys last week to his 1st house and now has a 40 year mortgage to contend with, when myself and Doris leave this earth then his financial problems will ease but not disappear so you could say he has a safety net, however, he doesn't go sulking on social forums like this complaining on how the world has tucked him up, he just got a 2nd Job saved for a ridiculous deposit and has taken the plunge. TBF to him, he worked out far sooner than i did, their isn't one single politician of any badge colour worth a wank and certainly not worth a 10 min walk to a polling booth. If you want it enough then you can achieve it, I could never have afforded to have gone to University and I'm glad that I didn't, those who did from my era and skool some have done very nicely but good luck to them, no envy, and a pat on the back to them the country needs entrepreneurs, I wouldn't pretend it's easy for the young, I moved out at 21, my son at 31, but as said previously if you want it, it's possible just get of your arse, off your phone, stop whining and get a Job (2 if needed). Immigration needs to be resolved but to even mention the word it's faaaaaaaaaaaaar right. More pressing matters, the next meltdown incoming, The next Tory budget to abolish inheritance Tax :hehe::hehe::hehe::hehe::hehe:

[Eric Cartman]

Re: generational inequality

Congratulations for stereotyping a whole generation.

He said 'yet so many' which I think is probably true. My mum doesn't vote selfishly and would actively vote for things that reduce inequality even if they negatively affected her yet she has gotten so used to additional benefits and even private sector pricing favouring older people that her whole perspective is skewed. I asked her why my dad gets a discounted season ticket as an OAP while loads of poorer people pay full price (they live near Inverness and he has a season ticket at Ross County) and she couldn't understand what I was getting at...

[Taunton Blue Genie]

Re: generational inequality

People buying multiple properties for AirBnB purposes doesn't help.

[Eric Cartman]

Re: generational inequality

My son took the keys last week to his 1st house and now has a 40 year mortgage to contend with, when myself and Doris leave this earth then his financial problems will ease but not disappear so you could say he has a safety net, however, he doesn't go sulking on social forums like this complaining on how the world has tucked him up, he just got a 2nd Job saved for a ridiculous deposit and has taken the plunge. TBF to him, he worked out far sooner than i did, their isn't one single politician of any badge colour worth a wank and certainly not worth a 10 min walk to a polling booth. If you want it enough then you can achieve it, I could never have afforded to have gone to University and I'm glad that I didn't, those who did from my era and skool some have done very nicely but good luck to them, no envy, and a pat on the back to them the country needs entrepreneurs, I wouldn't pretend it's easy for the young, I moved out at 21, my son at 31, but as said previously if you want it, it's possible just get of your arse, off your phone, stop whining and get a Job (2 if needed). Immigration needs to be resolved but to even mention the word it's faaaaaaaaaaaaar right. More pressing matters, the next meltdown incoming, The next Tory budget to abolish inheritance Tax :hehe::hehe::hehe::hehe::hehe:

You are missing the bigger issue which is that a large part of economy fails to exist if younger people don't have any money to spend. You can give my parents as much money as you want, they will go out for dinner once a month, the rest will sit in a savings account.

[Heathblue]

Re: generational inequality

You are missing the bigger issue which is that a large part of economy fails to exist if younger people don't have any money to spend. You can give my parents as much money as you want, they will go out for dinner once a month, the rest will sit in a savings account.

I'm missing your issue!!!!

[Taunton Blue Genie]

Re: generational inequality

He said 'yet so many' which I think is probably true. My mum doesn't vote selfishly and would actively vote for things that reduce inequality even if they negatively affected her yet she has gotten so used to additional benefits and even private sector pricing favouring older people that her whole perspective is skewed. I asked her why my dad gets a discounted season ticket as an OAP while loads of poorer people pay full price (they live near Inverness and he has a season ticket at Ross County) and she couldn't understand what I was getting at...

He stated "Young people have been screaming about this for a long time but voters who benefitted from this inequality don't give a toss."
That's what I responded to, old fruit.